Reference no: EM132192824

Question: 1. Discuss an example of a company that has employed a Blue Ocean Strategy. What are the value innovations that they delivered to customers? In creating a Blue Ocean with no competition, what process was eliminated? What standards were reduced? What standards were raised? What elements from adjacent industries were used to create a new user experience? What advantage does the company have and how will they sustain it?

2. How can the use of beacons to transmit information and sales pitches to nearby smart phones entice customers to engage with the product or store? What methods can be used to customize the message sent to each individual? What other types of Point of Purchase displays, kiosks, end caps or temporary displays would benefit from employing beacon technology?

3. Why is it important to make the idea that you are communicating sticky? What steps can be taken to increase the stickiness of an idea? Describe how making an idea sticky applies to the AIDA Model and the promotional mix. Give an example of a brand slogan and/or tag line. What is it about your example that makes it effective?

4. Discuss the benefits of developing a business as a wholesale operation first before moving to retail. What are the limitations of wholesale when compared to direct to consumer. What steps must be taken for a direct consumer model to gain enough customers to be viable? How can a direct to consumer business improve the efficiency of their supply chain? How can a wholesale company improve the efficiency of their supply chain?

5. Describe each of Cialdini's principles of persuasion. Discuss how companies might use them to improve their personal selling efforts.